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Gold price hits $2,100 for record high — and analysts don't expect it to stop there - TL;DR CNBC

Gold price hits $2,100 for record high — and analysts don't expect it to stop there

Publishing timestamp: 2023-12-04 12:28:19


Summary

The article discusses how spot gold prices reached a record high above $2100 per ounce before giving up some gains. It mentions that the prices of gold have risen for two consecutive months, driven by the Israel-Hamas conflict and expectations for interest rate cuts. Analysts predict that gold prices will remain above $2000 levels next year and could reach up to $2200 per ounce by the end of 2024. The article also mentions the potential impact of central bank purchases and a possible policy pivot by the Federal Reserve on gold prices.


Sentiment: MIXED

Tickers: @GC.1XAU=

Keywords: central bankingjerome powellgold / us dollar spotbusiness newscommodity marketspricesgold comex (apr'23)

Source: https://www.cnbc.com/2023/12/04/gold-prices-set-for-new-highs-amid-economic-geopolitical-uncertainty.html


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